Replies to post #129960 on Sino Agro Food Inc (fka SIAF)

[RealDutch]

Siaf HK holds shares in TRW. Was the plan that they were held for pre IPO?

Yes, you can see it in the Q3 2016 report on page 38.
https://www.sec.gov/Archives/edgar/data/1488419/000114420416134428/v451724_10q.htm

- HK China Party 31%. Held on behalf of Chinese owners. (To be sold during pre-IPO)
- SIAF 19%
- Trustee 18% (our stock dividend)
- 32% Chinese owners

So the Chinese owners will sell roughly half of their shares to pre-IPO investors. 31% should give them roughly $150M. Which they won't receive. Because TRW needs it to grow. So my guess has always been that $150M debt will be booked, owed to the Chinese partners. And then they will get paid after the IPO, when they raise another $150M in cash. This time, during IPO, SIAF's ownership will likely be diluted as well. But not during pre-IPO.

[zerohedge]

triway HK owns nothing. sorry. zero.